At some point, your teenager will be ready to drive and own a driving license. A significant challenge you may face while helping your teen start this aspect of their lives entails the high insurance rates. According to Bankrate, drivers in the U.S. pay an average of $1,655 yearly for full coverage car insurance. Depending on many factors, the minimum coverage cost is $480.
However, buying insurance cover for a teen is costlier than the regular rate. The estimated cost for the full coverage car insurance for a 17-year-old motorist is $2,250 annually. This is because 17-year-olds are still minors and not as experienced in driving as the older age groups. A report shows that accident rates are higher among teens 16-19 years than any other age group. As such, insurance companies charge higher to cover them.
The highlighted cost is for adding a teen to their parent’s policy. The price could go as high as $4905 if you’re insuring a vehicle purchased for your 17-year-old to drive. The good news is that you can save costs on your insurance if the car has high safety ratings and reliability scores. In addition, cheaper, older vehicles are typically the most affordable. The best cars to consider if you’re looking for the cheapest cars to insure for 17-year-olds are standard, everyday vehicles.
To make your search easier, here’s a curated list of highly-rated and some of the cheapest cars to Insure for Teenagers:
Fiat 500L- $2786
The Fiat 500 is a reliable, sleek Italian hatchback with high ratings in terms of safety, reliability, and stylish looks. It also gets high scores for its retro aesthetic and affordable price, making it an excellent choice for young drivers.
Though a small car, Fiat comes fully equipped with the latest tech, including a 5-inch infotainment touchscreen on its dashboard. The best part of this adorable car is the under $15,000 price range.
The cost of insurance coverage for this vehicle is $2786, depending on the model, year, trim, and the driver’s personal driving history, age, and location. You can get lower rates by going for the older models.
2. Mazda MX-5 Miata: $2640
The number one vehicle on this list regarding affordability is the Mazda MX-5 Miata. Ranked number one in the 2022 sports car class for insurance affordability, the Miata is also less expensive to insure compared to competitors like the Ford Mustang, Dodge Challenger, and the Chevrolet Camaro. According to Car and Driver, the Miata is the only affordable sports car with a convertible top. The Miata offers a spunky four-cylinder paired with a satisfying six-speed manual at a $28,000 starting price and an estimated insurance cost of $2640.
To get even lower rates, consider older years like 2012-2016. The trim and model you choose will also impact your insurance rate. Other factors include your location and driving record. A driver in Los Angeles may pay $435 more than a person living in Philadelphia. And under 20, drivers with driving violations and accidents on their record will pay higher. If you’re considering affordable insurance for your teen, click here for the cheapest car to insure for a 17 year old.
3. Subaru Outback: $2735
A Subaru Outback costs an estimated $1,121 annually to insure. This vehicle is cheaper than average models due to its low-risk factors. Besides, according to a National Highway Traffic Safety Administration report, this model has a theft rating of 5, with 1 representing the highest. It’s, therefore, no surprise that this vehicle is one of the least expensive models to insure.
The older models offer even cheaper insurance rates. For instance, the 2920 model costs an average of $1,207, while the 2005 Subaru Outback costs $964, a savings of $243. You can get it insured for a 17-year-old at an estimated $2735.
Named among the U.S. News & World Report’s Best New Cars for Teens list, the Subaru offers top-notch crash protection technologies and overall vehicle quality.
4. Volkswagen Golf GTI: $2740
The average cost of insurance for a GTI is $1,449 a year. However, for teens, the estimated worth is $2740. The Golf GTI could be a fun drive if your teen is responsible and already a good driver. This sophisticated but straightforward car makes an easy-to-drive and reliable car.
It offers a front-wheel-drive and hatchback that’s performance-oriented. This model is popular among first-time car owners because it is easy to modify, has readily available parts, and is low maintenance.
5. Mini Countryman: $2766
MINI Coopers have high safety ratings for a small car. As a result, many first-car owners choose them as a safer option instead of other gas-gulping competitors. Full coverage for a MINI Cooper averages $1,276 a year. For liability only cover, you’ll pay $106 monthly. This vehicle costs $243 less per year than the average vehicle. The sturdy engineering keeps maintenance costs reasonably low. As such, both repair and replacement costs are affordable. To insure this vehicle for a teen, you will pay a minimum of $2766.
What’s more, buying a brand-new MINI Cooper starts at an average of $22,900 for recent models, depending on the trim you choose. Besides an anti-theft system, MINIs come with multiple safety features, including front and rear airbags, anti-lock brakes, and four-wheel stability control.
6. Volkswagen Routan: $2769
The cheapest model of Volkswagen Routan that you can insure is the S 2WD at an estimated $1,082 annually. Other models cost an average of $1,166 annually or $97 monthly. The average rate for complete coverage to add a teen to your existing insurance coverage costs $2769. Named one of the top minivans for its 2014 model, the Volkswagen Routan offers advantages such as a composed guide, a decent 4.0-liter engine, and a quiet cabin.
7. Smart Fortwo: $2776
The average annual cost of coverage for a Smart Fortwo is $2,068. Each model has a different price, reliability standard, and safety ratings. A more expensive model will typically have higher coverage costs. In addition, the older the model, the cheaper the premium. For instance, a 2005 model costs an estimated $1,200, compared to the 2018 model, which costs $1,348.
Easily the smallest car on this list, this ‘cute’ smart car is a doddle to drive while still offering an air of premium. It provides relatively relaxed and effortless drive – perfect for first-time drivers to get more confidence.
8. Honda Odyssey: $2788
Besides offering lots of space, the Honda Odyssey appeals to the teens due to its tech features. Ranked number one by U.S. News and World Report for its 2020 model, the Odyssey comes laden with tech. Music is embedded in the culture of those within that age bracket. The 2020 model, for instance, includes a seven-speaker stereo, Bluetooth, USB ports, and even a satellite radio and a rear-seat Blu-ray entertainment system for the upgraded version. Most importantly, the Honda Odyssey is one of the safest minivans. It features a full range of Honda Sensing, including lane-keep assist, adaptive cruise control, road departure warning, and a rearview camera.
The average insurance for Honda Odyssey is $1,412 yearly, depending on the trim level. Compared to other minivans, the 2022 Honda Odyssey costs $113 less per year to insure. According to the IIHS, the Honda Odyssey 2022 has top safety ratings, making it an ideal vehicle for young motorists. The insurance costs for a teen driver cost an estimated $2788, depending on the trim level, location, driving record, and model year.
9. Subaru Legacy – $2792
The Subaru Legacy has many essential safety features and has received the highest possible rating in government crash tests. A Subaru legacy’s full coverage insurance costs are around $1,350 for mature drivers. For teen drivers, the average rates are $2,792. Besides age, other factors that ultimately impact Subaru Legacy rates include the driver’s location and model of the vehicle, and the driving record.
This practical midsize car offers safety features, space, and all-wheel-drive as standard. You get a roomy cabin space and a comfortable driving experience for teens.
10. Mini Paceman – $2807
This MINI is the two-door sporty version of the MINI Countryman, providing a sportier driving experience than any other small crossover. The standard trim of the Mini Paceman costs $2807 to insure. Buying a mini could mean enhancing your gas mileage and getting a good deal on Mini Cooper insurance for a 17-year-old.
The two-door, four-seat Paceman comes equipped with standard safety equipment, including seven airbags, stability control, and anti-lock brakes. This MINI keeps a retro vibe while offering a cutting-edge handle on in-car advances and chassis building.
Though 17-year-olds are considered more experienced than 16-year-old drivers, insurance providers still regard them as fairly inexperienced. The average insurance rates for teen drivers reflect this inexperience and charge higher for their coverage. Shopping around for the best deals can help you beta down the cost. These listed cars are not only highly-rated for teens, but they also provide the option of affordable insurance rates.